Trend analysis (Fig. 1)
On Friday, EUR/USD, continuing its downward movement from the level of 1.0977 (closing price of yesterday's daily candle), will test the support line located at 1.0930 (bold blue line), and then bounce back to the historical resistance level of 1.1013.
Fig. 1 (daily chart)
Comprehensive analysis:
Indicator analysis - downtrend
Fibonacci levels - downtrend
Volumes - downtrend
Candlestick analysis - downtrend
Trend analysis - downtrend
Bollinger bands - low
Weekly chart - downtrend
Conclusion: EUR/USD will slide down from the level of 1.0977 (closing price of yesterday's daily candle) to the support line located at 1.0930 (bold blue line), followed by a rise towards the historical resistance level of 1.1013.
Alternatively, the pair could move up straight from the level of 1.0977 (closing price of yesterday's daily candle) to the historical resistance level of 1.1013.
